Upstream news

The offshore Habi gas concession is located in Egypt’s eastern Mediterranean.

The project will last approximately 1 month and commence in 1Q20.

The company achieved a total net production of 124.8 million boe for 3Q19, representing an increase of 9.7% y/y.

Prior to the drilling of well 6506/11-11 S, the operator’s resource estimate for the discovery was between 3 and 21 million m3 of recoverable oil equivalents.

GMS's customer is an international EPC contractor, for which GMS will provide support for offshore activities on behalf of a Middle East national oil company.

The scope of work for fabrication of the SPS includes: project management; fabrication engineering; procurement; pre-assembly; fabrication; acceptance tests; and system-integration tests.

The licence and assurance will allow certain US and US-owned or controlled entities and also non-US entities to continue providing goods, services and support to Rhum beyond 31 October 2019; when the current licence expires.

DST2 was performed over a 12 m interval from 2834 m in the upper portion of the Lower Tsagaantsav Formation. The zone flowed oil and some associated gas to surface without the need for any artificial lift.

The company has announced 3Q19 sales and revenues of US$12.8 billion, a 6% decrease compared with US$13.5 billion in 3Q18. The decrease has been attributed to a US$1.2 billion movement in dealers’ inventories.

The 2D seismic acquisition programme in the Beetaloo Sub-basin in Australia's Northern Territory is expected to take 3 weeks to complete, after which the data will be processed.